ⅢDual Light-Cone ATR

📝 Indicator Overview

Anchor is used as a reference point, and ATR (volatility) is applied to project the “future permissible price range” in a Light-Cone style.

Two growth modes:

Linear n: Expands proportionally with time (standard ATR projection).

Diffusive √n: Expands with the square root of time (imaging diffusive fluctuations).

Additionally, 0.5c / 1.5c guide lines and inner fill shading can be optionally displayed.

A Z Panel is available (e.g., at the bottom right) to evaluate bias, showing where the price is located within the cone in numerical terms.

⚙️ Main Settings
Anchor (reference point)

Anchor Mode

"Time": Fix the anchor at the specified time.

"Bars Ago": Fix the anchor at n bars ago from the current bar.

Anchor Price

"Close", "Open", "High", "Low", "HL2": Use the selected price as the anchor.

"Manual": Manually input the anchor price.

ATR / Projection

ATR Length / Timeframe: ATR calculation as the cone base.

Projection Horizon (bars): How many bars forward the cone extends.

ATR Multiplier: The cone width (σ equivalent).

Height uses: Use Close-based or half of Wick (High/Low).

Display

Show Linear n cone: Display linear expansion cone.

Show Diffusive √n cone: Display diffusive expansion cone.

Show 0.5c / 1.5c guides: Display additional guide lines.

Line extend: none / right / both.

Style

Colors, widths, and transparency of lines and fills can be customized.

Z Panel

Show Z Panel: ON displays the panel.

Z threshold: ± value used for bias detection.

Panel Position: Position of the panel (Top/Bottom Left/Right).

📊 Chart Interpretation

Anchor label (yellow “Anchor”)
→ The base of the cone. It attaches precisely to the bar/price specified.

Linear n / Diffusive √n cones
→ The expanding regions projected from the anchor.

Upper side (teal/orange) = resistance zone.

Lower side (teal/orange) = support zone.

Guide lines (0.5c / 1.5c)
→ Used to assess risk levels between the inner and outer cone.

Example: Bounce inside 0.5c = strong trend.

Exceeding 1.5c = abnormal volatility.

Shaded fill area
→ Region where price is most likely to remain (σ-like function).

Z Panel

zL: Standardized deviation (Linear n model).

zD: Standardized deviation (Diffusive √n model).

±1 or more → price is near cone edge.

Green = bullish bias, Red = bearish bias.

✅ Trading Use Cases

Setting the Anchor at a key high/low shows the time × volatility spread range projected from that point.

As long as price stays inside the cone = “within expectations”. Breaking outside = “unexpected acceleration”.

When Z Panel values exceed ±1 → strong trend bias or abnormal volatility.

By comparing Linear vs Diffusive, you can evaluate both “trend expansion” and “noise diffusion.”

👉 In summary:
This indicator visualizes the future permissible price range (time × volatility) on the chart, allowing you to measure distance from the anchor statistically.

Do you want me to also rewrite this into a concise version (like a TradingView marketplace script description), or keep it as a full detailed manual-style version?